Thread: Woke firm Bed Bath & Beyond that dropped Mike Lindell’s MyPillow files for BANKRUPTCY

Woke firm Bed Bath & Beyond that dropped Mike Lindell’s MyPillow files for BANKRUPTCY

Wednesday, April 26, 2023 by: Ramon Tomey
Tags: bankruptcy, bankruptcy protection, Bed Bath & Beyond, Bubble, Chapter 11, Collapse, debt bomb, debt collapse, filing, liquidation, market crash, mike lindell, money supply, mypillow, risk, stupid, woke mob, wokies
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(Natural News) Bed Bath & Beyond (BBB), which went down the path of wokeism by dropping Mike Lindell’s MyPillow from its stores, has filed for bankruptcy.
According to the Wall Street Journal (WSJ), the retailer filed for Chapter 11 bankruptcy in Newark, New Jersey on April 23. The company said it expects to eventually close all of its 360 BBB and 120 Buybuy Baby locations across the country. It added that Sixth Street Partners, its top lender, has put up $240 million in financing to keep BBB operational through the liquidation process.
“Bankruptcy gives BBB the breathing room to conduct going-out-of-business sales at its physical stores and solicit interest from potential buyers for its remaining assets, such as its branding,” the WSJ noted. “Individual investors who continued to back Bed Bath & Beyond during its final months … will likely be wiped out in Chapter 11, which prioritizes the repayment of debt over shareholder recoveries.”
With the April 23 filing, BBB joins a growing list of retailers seeking court protections. David’s Bridal LLC recently filed for bankruptcy once more, its second time in five years. It warned that it would permanently close all of its stores if it fails to quickly find a buyer.
J.C. Penney Co. filed for bankruptcy in Texas in May 2020, although it continues to operate hundreds of stores. Meanwhile, Sears and Toys ‘R’ Us have closed most of their locations.
BBB Chief Financial Officer Holly Etlin expressed optimism about the company finding a buyer. She stated in the court filing: “BBB has pulled off long-shot transactions several times over the past six months, so nobody should think BBB should not be able to do so again.” (Related: Bed Bath & Beyond files for Chapter 11 “reorganization” bankruptcy following shady board moves and corporate virtue signaling.)
First established as Bed ‘n Bath in 1971, the company changed its name to the current iteration in 1987. The company went public five years later in 1992, acquiring several smaller stores. According to WSJ, the company did not have an unprofitable year prior to 2019 – when its financial woes began.
BBB dropped more profitable brands to its detriment

Under the leadership of former CEO Mark Tritton, the retailer dropped name brands it carried on store shelves in favor of private-label goods made exclusively for BBB. But former employees and analysts pointed out why Tritton’s plan failed – which eventually led to his departure in June 2022.
First, the switch came at a time when the Wuhan coronavirus (COVID-19) pandemic disrupted supply chains. Factories had temporarily closed and shipping delays had been piling up, alongside rising costs. This made it difficult for retailers, including BBB itself, to keep store shelves stocked.
Second, BBB also rolled out too many private brands too quickly before it had the infrastructure to support them. According to the former employees, the retailer planned to launch eight new brands in 2021 alone.
Third, the retailer capitalized on the demand from consumers stocking up while sheltering from the pandemic. The initial gains quickly evaporated as demand ebbed, with sales falling and losses piling up by August 2021.
Most notable, however, is BBB’s pivot toward wokeism by dropping MyPillow from its stores. Back in January 2021, the retailer announced that it would no longer carry the brand in its locations. The decision stemmed from Lindell’s skepticism toward the 2020 presidential election that put President Joe Biden in the White House.
The Gateway Pundit reported that a year after dropping MyPillow, BBB announced the closure of 37 stores. The company’s results for the third quarter of 2021 revealed that a “lack of inventory” cost them $100 million.
Wells Fargo analyst Zachary Fadem noted that BBB’s fundamentals are “deteriorating” amid “choppy execution” by management. Meanwhile, Tritton said supply chain headwinds will persist in the near term – putting a damper on future results.
“They could have stocked their shelves with MyPillow products, but they decided to get political,” the Gateway Pundit wrote. “Fortunately, Mike doesn’t need retailers like BBB – he’s going direct to conservatives and passing on the savings.”
Collapse.news has more stories about businesses filing for bankruptcy.
Watch this video about BBB’s shift to wokeism and its subsequent downfall.

This video is from the mcr channel on Brighteon.com.
More related stories:

Get woke, go broke: Bed Bath & Beyond now begging product consignment company to stock its shelves so that stores don’t appear empty.
Bed Bath & Beyond bet on China and lost: After kicking Mike Lindell’s MyPillow to the curb, chain losing money and closing stores.
Report: Conservatives boycotted Bed Bath & Beyond after it cancelled MyPillow and Mike Lindell.
GET WOKE GO BROKE: Home-goods giant Bed Bath & Beyond considers filing for bankruptcy.
Sources include:
WSJ.com
TheGatewayPundit.com
Brighteon.com

Woke firm Bed Bath & Beyond that dropped Mike Lindell’s MyPillow files for BANKRUPTCY – NaturalNews.com

Buybuy Baby set to close after parent company Bed Bath & Beyond files for Chapter 11 bankruptcy

Thursday, April 27, 2023 by: Ramon Tomey
Tags: bankruptcy, bankruptcy filing, bankruptcy protection, Bed Bath & Beyond, Bubble, business, buybuy BABY, Chapter 11, Collapse, corporations, debt bomb, debt collapse, economic collapse, economic riot, finance riot, market crash, money supply, risk, store closure
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(Natural News) Infant goods store Buybuy Baby announced that it will close for good following the bankruptcy filing of its parent company Bed Bath & Beyond (BBB).
“Thank you to all of our loyal customers. We have made the difficult decision to begin winding down our operations. BBB & Buybuy Baby stores remain open to serve you,” said a statement on the baby retailer’s website.
An FAQ page about the retailer’s Chapter 11 filing stated that going-out-of-business sales began on April 26. Any returns and exchanges for items bought before that date will be permitted until the end of the May 24 business day. Shopper rewards and merchandise credits would no longer be honored after May 8, the company added.
As part of the bankruptcy, Buybuy Baby will be closing 120 stores nationwide by June 30. The closures mean that thousands who worked at the baby retail store will be out of jobs. They will be joining the many other employees at 360 BBB locations across the country.
Buybuy Baby was established in 1996 by siblings Richard and Jeffrey Feinstein, whose father is BBB co-founder Leonard Feinstein. The elder Feinstein’s firm acquired the smaller retail chain in 2007 for $67 million, with eight stores at the time of acquisition.
In February, Reuters reported that BBB’s Canadian operations are shutting down for good. It cited a Feb. 10 court filing from the company posted on the website of consultancy firm Alvarez and Marsal.
According to the filing, BBB’s Canada division lacks the capacity or ability to independently effect a recapitalization or restructuring of the Canadian operations without access to cash and support from the parent company and its lenders. It had been operating 54 BBB stores and 11 Buybuy Baby stores in Canada at the time of the filing.
However, BBB filed for Chapter 11 bankruptcy protection on April 23 after failing to secure funds to stay afloat. In a statement released on the same day, the company announced that retail stores and websites – including Buybuy Baby – will remain open and continue serving customers as the liquidation process commences.
BBB expresses optimism in bankruptcy filing

An April 23 report by the Wall Street Journal (WSJ) said BBB filed for bankruptcy protection in New Jersey. It also mentioned that Sixth Street Partners, its top lender, has put up $240 million in financing to keep BBB operational through the liquidation process. (Related: Woke firm Bed Bath & Beyond that dropped Mike Lindell’s MyPillow files for BANKRUPTCY.)
“Bankruptcy gives BBB the breathing room to conduct going-out-of-business sales at its physical stores and solicit interest from potential buyers for its remaining assets, such as its branding,” the WSJ noted. “Individual investors who continued to back Bed Bath & Beyond during its final months … will likely be wiped out in Chapter 11, which prioritizes the repayment of debt over shareholder recoveries.”
BBB Chief Financial Officer Holly Etlin nevertheless expressed optimism about the company finding a buyer. She stated in the April 23 court filing: “BBB has pulled off long-shot transactions several times over the past six months, so nobody should think BBB should not be able to do so again.”
First established as Bed ‘n Bath in 1971, the company changed its name to the current iteration in 1987. The company went public five years later in 1992, acquiring several smaller stores in the process – including Buybuy Baby. According to the WSJ, the company’s financial woes began in 2019.
Watch this video about BBB’s shift to wokeism and its subsequent downfall after it dropped Mike Lindell’s MyPillow from store shelves.

This video is from the mcr channel on Brighteon.com.
More related stories:

Bed Bath & Beyond files for Chapter 11 “reorganization” bankruptcy following shady board moves and corporate virtue signaling.
Get woke, go broke: Bed Bath & Beyond now begging product consignment company to stock its shelves so that stores don’t appear empty.
Bed Bath & Beyond bet on China and lost: After kicking Mike Lindell’s MyPillow to the curb, chain losing money and closing stores.
Report: Conservatives boycotted Bed Bath & Beyond after it cancelled MyPillow and Mike Lindell.
GET WOKE GO BROKE: Home-goods giant Bed Bath & Beyond considers filing for bankruptcy.
Sources include:
DailyMail.co.uk
BuybuyBaby.com
Reuters.com
WSJ.com
Brighteon.com

Buybuy Baby set to close after parent company Bed Bath & Beyond files for Chapter 11 bankruptcy – NaturalNews.com